Purchasing a vehicle often requires careful planning and consideration of your finances. Car loans have emerged as a prevalent financing option, providing you with the funds to acquire a car of your choice while spreading the cost over a set period.
As your financial circumstances change, you might find yourself in need of additional funds. In such situations, opting for a car loan top-up can prove to be a smart move. This option allows you to build upon your existing loan, providing a convenient solution to meet your changing financial requirements.
What is a car loan top-up?
A car loan top-up allows individuals to obtain additional funds on their existing car loan without going through the process of applying for a new one.
A car loan top-up is given at the discretion of the lender. The lender usually reviews the borrower's payment history, ensuring timely and consistent payments without prolonged EMI defaults before approving the top-up loan amount.
For example, if you currently have an existing car loan with some other lender, you have the option to acquire a top-up loan amount by transferring your ongoing loan to Bajaj Finance. The amount you receive is based on factors such as your car’s value, credit history, and if you meet the set eligibility criteria for car loan top-up.
Additional read: Is opting for a car loan balance transfer the right choice for you
Here are a few additional benefits of opting for a Bajaj Finserv Car Loan Balance Transfer and top-up:
- High loan amount
Bajaj Finance offers a high value top-up of up to Rs. 52 lakh at competitive interest rates. - Quick processing
Transferring your existing car loan to Bajaj Finance is easy and hassle-free. You can transfer your existing loan and receive the additional amount within 48 hours* after approval.
- Doorstep document collection
Bajaj Finance offers documents collection service, making the procedure of transferring a car loan easier. You can easily schedule an appointment and submit your paperwork to our representative without leaving your home.
- Convenient repayment tenures
Bajaj Finserv Car Loan Balance Transfer and Top-up come with flexible tenure choices. You can repay your loan over a period of up to 84 months. This allows you to divide your loan into manageable monthly payments.
Click on the link below to know more about this loan offering.
